India must act promptly to reform oil pricing

Oil prices may have well peaked, for good. The International Energy Agency (IEA), in its latest medium-term oil market report, foresees a more ‘benign’ outlook on the strength of subdued demand and stepped-up supplies that it says could be deeply transformative globally.
This makes domestic energy price reform politically easier and all the more imperative. The IEA adds caveats on possible geopolitical risks and consequent supply rigidities, even disruptions; oil prices anyway do tend to be volatile. But the big picture emerging that ought not to be missed is this: the days of flaring oil prices may be history………………………………………..Full Article: Source